Crown Castle Announces Pricing of Senior Notes Offering
January 30 2017 - 4:19PM
Crown Castle International Corp. (NYSE:CCI) ("Crown Castle")
announced today that it has priced its previously announced public
offering of 4.000% Senior Notes due 2027 in an aggregate principal
amount of $500 million. The notes will have an interest rate
of 4.000% per annum and will be issued at a price equal to 99.578%
of their face value to yield 4.051%.
The net proceeds from the offering are expected
to be approximately $493 million, after deducting the underwriting
discount and other offering expenses payable by Crown Castle.
Crown Castle intends to use net proceeds from the offering to repay
a portion of the outstanding borrowings under Crown Castle’s senior
unsecured revolving credit facility.
Barclays, J.P. Morgan, Mizuho Securities, RBC
Capital Markets and TD Securities are the joint book-running
managers of the offering.
The offering is being made pursuant to an
effective shelf registration statement filed with
the Securities and Exchange Commission ("SEC"). The
offering will be made only by means of a prospectus supplement and
the accompanying base prospectus, copies of which may be obtained
by contacting any joint book-running manager using the information
provided below. An electronic copy of the prospectus
supplement, together with the accompanying prospectus, is also
available on the SEC's website, www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any sale of these securities
in any state or other jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
CAUTIONARY LANGUAGE REGARDING
FORWARD-LOOKING STATEMENTSThis press release contains
forward-looking statements that are based on Crown Castle
management's current expectations. Such statements include
plans, projections and estimates regarding the proposed offering,
including the net proceeds therefrom and the use of such
proceeds. Such forward-looking statements are subject to
certain risks, uncertainties and assumptions, including prevailing
market conditions and other factors. Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those expected. More information about potential risk
factors that could affect Crown Castle and its results is included
in Crown Castle's filings with the SEC. The term "including,"
and any variation thereof, means "including, without
limitation."
ABOUT CROWN CASTLECrown Castle
provides wireless carriers with the infrastructure they need to
keep people connected and businesses running. With
approximately 40,000 towers and 26,500 route miles of fiber
supporting small cells, Crown Castle is the nation's largest
provider of shared wireless infrastructure with a significant
presence in the top 100 US markets.
JOINT BOOK-RUNNING MANAGERS CONTACT
INFORMATION
Barclays Capital Inc.,
1155 Long Island Avenue, Edgewood, NY 11717 Attn: Broadridge
Financial Solutions Toll-free: (888) 603-5847 E-mail:
barclaysprospectus@broadridge.com |
J.P. Morgan Securities
LLC,383 Madison Avenue, 3rd Floor, New York, NY 10179, Attn:
Investment Grade Syndicate Desk,Collect: 1-212-834-4533 |
Mizuho Securities USA
Inc.,320 Park Avenue, New York, NY 10022,Attn: Debt Capital
Markets,Toll-free: 1-866-271-7403 |
RBC Capital Markets
LLC,200 Vesey Street, 8th Floor, New York, NY 10281,Toll-free:
1-866-375-6829 |
TD
Securities (USA) LLC 31 W. 52nd Street, 2nd Floor New York, NY
10019 Attn: Debt Capital Markets Toll-free: (855) 495-9846 |
|
|
Contacts: |
Dan Schlanger, CFO |
|
Son Nguyen, VP &
Treasurer |
|
Crown Castle
International Corp. |
|
713-570-3050 |
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